I picked up on the unfranked divvies too.
I would still like to see a share buyback, but ......
The other thing is that I think they are adopting the BHP view of a double dip recession and look to be keeping the cash for opportunistic aquisitions. (If copper retreats to $2, a lot of companies sail close to the wind), but then again, would OZL want them? Maybe not.
HT1